Scottish Limited Partnership (SLLP)
Limited Liability Partnership
A popular choice for those looking to establish a business partnership
What is a Scottish Limited Liability Partnership?
A Scottish Limited Partnership (SLLP) is a company established between at least two partners; one being the main partner, who is responsible for running the business, and a limited partner who contributes cash or property. The limited partner is not legally or financially responsible for the business in the same way as the main partner.
Why choose an SLLP structure?
An SLLP allows for a tax-efficient strategy as they are considered “fiscally transparent” by HMRC, so the Partnership itself is not taxed, only the profits that go directly to the partners are taxed. As the partners are taxed directly, this means:
- Non-UK residents will only pay UK tax on income that was earned in the UK, so any trade occurring offshore from the UK will only be taxed at the partner’susual tax rate, depending on their country of residency;
- UK residents will be subject to the usual level of taxation for their income bracket, and will not be subject to multiple levels of tax (at personal and corporate level, for example).
The other major benefit of an SLLP is that the Partnership is its own legal entity; which means it can own its own property and conduct legal matters in its own name, not in the name of its partners.
Why Our Companies Are Better
Other formation agents incorporate companies with an “agent director” – an employee of the formation agent becomes the Founding Director for the new company, then resigns and transfers the shares to the customer. This frequently leads to confusion, and in the worst cases can cause damaging delays in financial transactions in the formative period for the company. At Companies Home, the company is established with you, as our customer, as the Founding Director and shareholder from the outset. The Companies House registry will show you as owning the company from the outset, avoiding the possibility of these delays, and further confirming your company’s integrity.
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Scottish Limited Liability Partnership
£700
(excl. VAT)
Scottish Company Incorporation
Companies House Filing Fee
Digital Certificate of Incorporation
1 x Printed Certificate of Incorporation
Digital Memorandum & Articles of Association
1 x Printed Memorandum & Articles of Association
Free Online Portal to Manage your Company
2 hour consultancy to ensure the structure is done in the best way
Free .com or .co.uk Registration
Search
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Incorporate
Follow our step-by-step process to form your new company within 24 hours.
Operate
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We Provide 24/7 Online Support
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Easy Access
No paper documents are required to be filled and all forms are available online. You will receive the original hard copy of the Incorporation Certificate by mail and all company documents (such as the memorandum & articles of association) will be easily available in PDF form online 24/7.
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